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REDAVENUE NEWS | 2021-05-08

Red Avenue New Materials Entered the Shanghai Electronic Chemical Zone as the First Batch of Companies

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The first electronic chemicals zone in Shanghai was inaugurated and established in Shanghai Chemical Industry Zone yesterday. Red Avenue Electronic Materials, as the first batch of enterprises to settle in the Shanghai electronic chemicals zone, will become an electronic chemical base with international influence in the future. Mr. Qing Wu, member of the Standing Committee of the Municipal Party Committee and Vice Mayor, attended and unveiled the special area.

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The development of the integrated circuit industry is an important task assigned by the state government to Shanghai. The construction of a special zone in the Shanghai Chemical Industry Park will focus on the development of electronic chemical projects, which will become the material support for the development of the integrated circuit industry.

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As one of the first companies to settle in the zone, Red Avenue Electronic Materials plans to invest RMB 570 million in a photoresist project to build a production line with an annual output of 11,000 tons of photoresist for semiconductors, flat panel displays and 20,000 tons of Related supporting reagents. This production line is expected to be completed and put into production at the end of 2021. “The endogenous growth and extensional development can optimize the layout of the industrial chain and accelerate the business of electronic chemicals and environmental protection materials.” said Jianhui Zhou, the company’s principal. “This is good for the manufacturing of display panels and semiconductor chips. By the strong R&D capabilities, we can truly achieve the localized production of electronic chemicals in the special zone."

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According to the plan of Shanghai Chemical Industry Zone, by 2025, the zone will put all effect to achieve 70% of the matching rate for electronic chemicals in Shanghai's integrated circuit industry and 65% of national matching rate for various products, and become a benchmark electronic chemical base in China. By 2030, both localized manufacturing and independent innovation will be achieved, and the matching rate of integrated circuits for Shanghai will exceed 90%, and it will become an electronic chemical base with international influence.

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About Red Avenue
Established in 1999, Red Avenue is one of the world's important chemical supplies and service providers for tire rubber